FedEx Corporation $FDX Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its FedEx stake by 2.1% in Q1, bringing its holdings to 2.63 million shares valued at about $936.7 million.
• Several other institutional investors also boosted or initiated positions in FedEx, and hedge funds and other institutions now own 84.47% of the company.
• FedEx recently beat quarterly earnings expectations, reporting $6.31 EPS on $25.01 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $350.54.

Dimensional Fund Advisors LP increased its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,630,669 shares of the shipping service provider's stock after acquiring an additional 52,963 shares during the quarter. Dimensional Fund Advisors LP owned 1.10% of FedEx worth $936,688,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of FedEx during the fourth quarter valued at $859,085,000. Boston Partners purchased a new stake in FedEx in the 3rd quarter worth about $468,195,000. AQR Capital Management LLC boosted its position in FedEx by 169.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock worth $638,203,000 after acquiring an additional 1,718,278 shares during the period. Waddell & Associates LLC grew its stake in FedEx by 164.0% during the 4th quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider's stock valued at $343,206,000 after acquiring an additional 738,122 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of FedEx by 3,211.5% in the 3rd quarter. Two Sigma Investments LP now owns 549,306 shares of the shipping service provider's stock valued at $129,532,000 after purchasing an additional 532,718 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FDX. Stifel Nicolaus lowered their price objective on shares of FedEx from $442.00 to $326.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. TD Cowen decreased their target price on shares of FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Evercore set a $165.00 price objective on FedEx in a report on Friday, June 26th. Wells Fargo & Company reduced their price objective on FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Wednesday, June 17th. Finally, Stephens upgraded FedEx to a "strong-buy" rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $350.54.

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 5,042 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

FedEx Price Performance

Shares of NYSE:FDX opened at $313.17 on Monday. The stock has a market capitalization of $74.72 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.61 and a beta of 1.29. The business has a 50-day moving average of $342.12 and a two-hundred day moving average of $349.62. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 23rd. The shipping service provider reported $6.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.91 by $0.40. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $25.01 billion for the quarter, compared to the consensus estimate of $24.04 billion. During the same period last year, the business earned $6.07 EPS. The firm's revenue was up 12.5% compared to the same quarter last year. FedEx has set its FY 2027 guidance at 16.900-18.100 EPS. On average, equities research analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's payout ratio is currently 26.36%.

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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